Jos. A. Bank Clothiers Inc. said Friday its CEO and president, R. Neal Black, earned $4 million last year, with nearly half the compensation in stock awards.
Black's earnings were about the same as the previous year, with an increase of nearly $13,000, the men's apparel retailer disclosed.
Black's annual earnings included a base salary of $783,138, nearly $2 million in stock awards and $1.2 million in cash incentive compensation – the maximum that could have been earned under the program, the company said in documents filed with the Securities and Exchange Commission.
In fiscal 2011, the retailer saw a 7.6 percent increase in sales at stores open at least a year. Profits rose 13.6 percent to $97.5 million, on sales of $979.9 million for the year.